The story appears on

Page B2

August 7, 2009

GET this page in PDF

Free for subscribers

View shopping cart

Related News

Home » Business » Energy

Firm seeks to list in HK and Shanghai

CHINA Metallurgical Group plans to seek dual listings in Hong Kong and Shanghai as early as next month to raise up to US$4 billion, said sources with direct knowledge of the deal, which could be the world's second-largest fundraising this year.

The company was still awaiting approval from the authorities, but hoped to kick off an international road show early next month, two sources said.

China Metallurgical aimed to issue A shares in Shanghai by mid-September and hoped to launch an H-share offering in Hong Kong before the end of the same month, they said.

The company has an iron mining joint venture in Australia with CITIC Pacific. Its businesses also include natural resources, scientific research and industrial engineering.

Morgan Stanley, CITIC Securities, CICC and Citigroup were handling the deal, they said.

Recent successful trading debuts on Chinese mainland and Hong Kong have fanned investor interest in chasing newly-listed stocks or initial public offering shares.

China State Construction Engineering Corp surged as much as 90 percent on its trading debut in Shanghai last week after its US$7.3-billion IPO, the world largest this year, was warmly received.


Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.

沪公网安备 31010602000204号

Email this to your friend